The Cheesecake Factory Incorporated $CAKE Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP reduced its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 30.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,245 shares of the restaurant operator’s stock after selling 11,592 shares during the period. Cheesecake Factory accounts for about 1.1% of Tabor Asset Management LP’s portfolio, making the stock its 29th largest holding. Tabor Asset Management LP owned approximately 0.05% of Cheesecake Factory worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CAKE. Ameritas Advisory Services LLC acquired a new position in Cheesecake Factory during the 2nd quarter worth $28,000. SBI Securities Co. Ltd. raised its position in Cheesecake Factory by 38.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 346 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Cheesecake Factory in the 1st quarter valued at about $72,000. Penserra Capital Management LLC acquired a new position in shares of Cheesecake Factory during the second quarter worth about $137,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cheesecake Factory by 24.4% during the first quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock worth $162,000 after buying an additional 640 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cheesecake Factory

In related news, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the transaction, the president directly owned 24,532 shares in the company, valued at approximately $1,546,987.92. This trade represents a 63.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.40% of the company’s stock.

Cheesecake Factory Stock Up 1.1%

CAKE stock opened at $47.45 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The firm has a market capitalization of $2.37 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.21 and a beta of 1.08. The Cheesecake Factory Incorporated has a 52-week low of $42.69 and a 52-week high of $69.70. The company’s 50 day simple moving average is $54.71 and its 200-day simple moving average is $57.45.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Monday, November 3rd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $907.23 million during the quarter, compared to the consensus estimate of $912.95 million. Cheesecake Factory had a return on equity of 47.25% and a net margin of 4.33%.The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. As a group, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. Cheesecake Factory’s dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheesecake Factory in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Robert W. Baird set a $57.00 target price on shares of Cheesecake Factory in a report on Wednesday, October 29th. Argus reduced their price target on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America decreased their price target on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.18.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.